As a Mortgage Broker, I deal with helping borrowers satisfy judgments and when I a $10,000 judgment on credit, I look at the date it was recorded and calculate the actual TRUE amount owed to get a range and it's usually not pretty when its over 10 yrs old!      

This would also allow us to save our credit and we could, within 2 yrs, take a mortgage in our name and, in turn, rent it out down the line for $1200 pm.

(As a landlord you can't even file unless the city has inspected the property within the last 2 yrs and passed it as occupiable)  Usually 45 days and they are out.

Step 2: After the owner vacates (part of my agreement when buying the property) I tie the property up with a lease option to some random cat that I find on craigslist.Step 3: Rinse, & repeat on multiple properties (over the next 3 to 5 yrs) .Step 4: Pay the properties' existing financing down with 100 % of the cashflows.

On a more positive note, they found an excellent tenant who has been there >5 yrs despite my annual rent increases in an attempt to break ties with the PM "professional" company.  

But after about 8 yrs I finally figured out that flat is best.

Remember 20 yrs ago rental clean-up people would charge $45 per room for apts.Assume the hallways gets thrown in.

Then there may be some appreciation over the next 3-5 yrs?

sling, i just had a face to face meeting w/ a local bank here north of boston...we spoke at first about exit strategy out of hard money into a conventional loan...he then presents me with the possibility of a staight construction/rehab loan with his bank based on 75% or even possibly 80% LTV based on ARV...with an interest rate of around 7 or under 5/1 ARM & 30 yr...needless to say i walked out very excited...reasons he is optimistic about lending to me is 1) i have over 5 yrs experience buying/selling and renting multi family property and 2) this is not my primary business, only a secondary form of income 3) MOST IMPORTANTLY they will keep this loan "in house" as i already have over 4 mortgagesso keep calling, yesterday i think i called 6 smaller to mid sized local banks in and around Boston

I'd like to find out if there is a maximum amount of mortage interest that one is allowed to write off of income taxes in any given year.I'm a newbie and here's my situation:I'm a farily new lawyer (48 yrs old, unmarried, no kids, no property) on my second career having worked as an engineer for a major corp. for the last 20 years.